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Category: Economy

The US Economy

Peter Navarro on stalled coronavirus relief plan: Reaching a deal 'should be easy'
Posted inEconomy

Peter Navarro on stalled coronavirus relief plan: Reaching a deal ‘should be easy’

USNN World Newsby USNN World NewsAugust 16, 2020August 16, 2020
Stocks slide after Congress breaks with no COVID-relief deal
Posted inEconomy

Stocks slide after Congress breaks with no COVID-relief deal

USNN World Newsby USNN World NewsAugust 14, 2020August 14, 2020
Number of Americans filing for unemployment falls below 1M for first time since pandemic started
Posted inEconomy

Number of Americans filing for unemployment falls below 1M for first time since pandemic started

USNN World Newsby USNN World NewsAugust 13, 2020June 20, 2024
Trump says Democrats' mail-in ballot push holding up coronavirus stimulus package
Posted inEconomy

Trump says Democrats’ mail-in ballot push holding up coronavirus stimulus package

USNN World Newsby USNN World NewsAugust 13, 2020March 26, 2025
Trump Mulls Capital Gains and Middle-Income Tax Cuts to Revive Economy
Posted inEconomy

Trump Mulls Capital Gains and Middle-Income Tax Cuts to Revive Economy

USNN World Newsby USNN World NewsAugust 11, 2020June 4, 2025
PPP responsible for 'majority' of jobs created since May, SBA administrator says
Posted inEconomy

PPP responsible for ‘majority’ of jobs created since May, SBA administrator says

USNN World Newsby USNN World NewsAugust 10, 2020June 20, 2024
Trump payroll tax executive order likely worth $1,200 per worker: Kudlow
Posted inEconomy

Trump payroll tax executive order likely worth $1,200 per worker: Kudlow

USNN World Newsby USNN World NewsAugust 9, 2020August 9, 2020
Canada slaps back at new Trump tariffs with $2.7B in aluminum duties
Posted inEconomy

Canada slaps back at new Trump tariffs with $2.7B in aluminum duties

USNN World Newsby USNN World NewsAugust 8, 2020August 8, 2020
Trump orders $400 weekly unemployment payments amid COVID crisis, accuses Dems of stonewalling
Posted inEconomy

Trump orders $400 weekly unemployment payments amid COVID crisis, accuses Dems of stonewalling

USNN World Newsby USNN World NewsAugust 8, 2020October 14, 2024
President Trump will sign executive orders Saturday aimed at delivering relief to Americans struggling with the economic fallout of the coronavirus pandemic, Fox News has learned. Trump is expected to announce the presidential action during a 3:30 p.m news conference at Trump National Golf Club Bedminster, N.J., before heading to the Hamptons for fundraising events. Trump blamed Democrats Friday for the coronavirus deal stalemate in Congress and said he'd take matters into his own hands. Earlier this week, he previewed executive orders that would extend enhanced federal unemployment benefits, suspend payroll taxes until the end of the year, extend a moratorium on evictions and help with student loan payments. TRUMP SAYS CORONAVIRUS RELIEF EXECUTIVE ORDER COULD COME BY THE END OF THE WEEK 'IF DEMOCRATS CONTINUE TO HOLD RELIEF HOSTAGE' “The president is taking action to provide relief to unemployed Americans, among other actions to provide relief," a senior administration official told Fox News Saturday. Acting unilaterally has its limits and could prompt legal challenges. Trump's orders are narrower in scope than the trillions of dollars Congress is mulling for a massive stimulus to the virus-damaged economy. Congress controls new federal spending and Trump already predicted sidestepping lawmakers will have consequences. “We’ll see, yeah, probably we’ll get sued," Trump told reporters Friday. House Democrats already passed their $3 trillion coronavirus relief bill in May. The Senate GOP last month proposed a $1 trillion plan, though didn't bring the measure to a vote as Republicans were divided on whether more aid is even needed. placeholder DESPITE POLLS AND PANDEMIC, TRUMP CAMPAIGN ARGUES CANDIDATE BETTER POSITIONED THAN IN 2016 House Speaker Nancy Pelosi and Senate Democratic Leader Chuck Schumer have been in talks all week with White House Chief of Staff Mark Meadows and Treasury Secretary Steven Mnuchin, but the two sides couldn't strike a deal. Democrats blamed the GOP for failing to understand the gravity of the crisis and for trying to "nickel and dime" struggling Americans, while the White House accused Democrats of not willing to compromise. Trump's actions aren't expected to address some of the big issues that Congressional proposals sought to tackle, including another round of $1,200 stimulus checks, aid to schools to reopen safely, an infusion of cash to revenue-strapped state and local governments, food assistance, new lawsuit protections for businesses and money for mail-in voting for the 2020 elections. Because of provisions in the Constitution that grant the legislative branch spending power, the White House can't just pull hundreds of billions out of the ether without Congressional approval. PELOSI SAYS DEMOCRATS WILLING TO COMPROMISE AT $2T FOR CORONAVIRUS BILL, REJECTED BY TRUMP ADMIN But the Trump administration believes it has access to $140 billion which it can “reprogram.” That includes $80 billion in untapped money from the big coronavirus bill signed into law in March and $40 billion from the Disaster Relief Fund. placeholder The White House believes it can divert some of this funding without congressional blessing, similar to how Trump in 2019 declared a national emergency at the border with Mexico to shift billions of dollars from the Pentagon budget to help pay for a border wall. Pelosi and Schumer earlier this week expressed skepticism about Trump's executive powers. "You can't move that much money," Pelosi said. "We're talking about a major investment." GOP OFFICIALS PREVIEW ‘EPIC’ TRUMP ADDRESS, FIRST FAMILY ROLE IN EVOLVING CONVENTION PROGRAM The Democrats want the White House to continue negotiating with Congress on a big package. "A better way to do this is [to] come to an agreement that meets the needs of the American people -- a much better way," Schumer said. The need for relief is pressing as millions of Americans lost out on the $600-per-week federal unemployment benefit that expired at the end of July. A partial moratorium on evictions on properties with government-backed mortgages also expired at the end of last month. placeholder There are some 110 million Americans living in rental households; up to 23 million renters – or 20 percent – are at risk of eviction by Sept. 30, according to an analysis by the COVID-19 Eviction Defense Project. With the supplemental $600 in unemployment benefits now officially lapsed, about 24 million Americans say they have little to no chance of being able to pay next month's rent, according to a survey by the U.S. Census Bureau. CLICK HERE TO GET THE FOX NEWS APP Rent and mortgage payments are typically the largest monthly expense for Americans: One in four tenant families pays more than half of its income for rent, a rate that’s even higher in cities like San Francisco and New York, according to Harvard’s Joint Center for Housing Studies. New jobless figures from the Labor Department, which cover the week ending August 1, show that more than 1.18 million workers sought aid last week, the lowest since March 14. The latest figures bring the total number of unemployment claims since the shutdown began to more than 55 million. The unemployment rate fell to 10.2%, down from 11.1% in June. Fox News' Mark Meredith, John Roberts, Jon Decker, Chad Pergram, Brooke Singman and Megan Henney contributed to this report.
Posted inEconomy

Trump to sign coronavirus relief executive orders Saturday to help unemployed Americans, others

USNN World Newsby USNN World NewsAugust 8, 2020August 8, 2020
Trump officials recommend executive action as stimulus talks break down
Posted inEconomy

Trump officials recommend executive action as stimulus talks break down

USNN World Newsby USNN World NewsAugust 7, 2020August 7, 2020
US employers hire 1.8M despite new COVID-19 shutdowns
Posted inEconomy

US employers hire 1.8M despite new COVID-19 shutdowns

USNN World Newsby USNN World NewsAugust 7, 2020December 5, 2024

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NATIONAL NEWS

  • Kari Lake Files Petition to Transfer Election Lawsuit to Arizona Supreme CourtKari Lake Files Petition to Transfer Election Lawsuit to Arizona Supreme Court
    By Jack Phillips Arizona GOP candidate Kari Lake filed a petition to transfer her election case from Maricopa County to the Arizona Supreme Court over the past ...
  • McCarthy Fails in Votes for Speaker of the House; Bitter Battle Erupts Among GOPersMcCarthy Fails in Votes for Speaker of the House; Bitter Battle Erupts Among GOPers
    By Mark Tapscott and Madalina Vasiliu WASHINGTON—Chaos walked into the chamber of the U.S. House of Representatives Tuesday and made itself home as members of the new ...
  • Republicans Plan to Start a Committee to Probe ‘Weaponization of the Federal Government’Republicans Plan to Start a Committee to Probe ‘Weaponization of the Federal Government’
    By Tom Ozimek House Republicans want to investigate allegations of collusion between federal agencies and private companies, and, to that end, they’re looking to establish a ...
  • Pro-Trump MAGA Hat Is Free Speech: CourtPro-Trump MAGA Hat Is Free Speech: Court
    By Zachary Stieber A teacher who wore a “Make America Great Again” hat to school was engaging in constitutionally-protected free speech, a U.S. appeals court ...
  • Opposition to McCarthy Grows as House of Representatives Prepare to Elect New LeaderOpposition to McCarthy Grows as House of Representatives Prepare to Elect New Leader
    By Zachary Stieber The U.S. House of Representatives is set to elect a new leader on Jan. 3 as Republicans take control of the lower chamber. Speakers typically ...
  • General Motors Funds Transgenderism Efforts in Children’s ClassroomsGeneral Motors Funds Transgenderism Efforts in Children’s Classrooms
    By Bryan Jung General Motors (GM) provided a grant to a pro-transgender organization that supplies kindergarten and elementary classrooms with children’s books that support its ideology. The Detroit-based automaker ...
  • IRS Increases Deductible Costs for Mileage by 3 Cents per Mile in 2023IRS Increases Deductible Costs for Mileage by 3 Cents per Mile in 2023
    By The Center Square The optional standard rate for deductible costs for operating an automobile for business will increase to 65.5 cents per mile in ...
  • 2 Dead, Thousands Without Power in California After Storm Forces Evacuations2 Dead, Thousands Without Power in California After Storm Forces Evacuations
    By Katabella Roberts Two people have died and nearly 200,000 homes and businesses in Sacramento, California were without power on New Year’s Eve after a powerful storm bought flash flooding, mudslides, ...
  • Machete Attack Near Times Square New Year’s Eve Celebration Leaves 2 NYPD Officers Injured, FBI InvestigatesMachete Attack Near Times Square New Year’s Eve Celebration Leaves 2 NYPD Officers Injured, FBI Investigates
    By Jack Phillips A man attacked three NYPD police officers with a machete on New Years Eve in New York City near Times Square celebrations, injuring two, officials said ...
  • Scalise Reveals First Legislation for Republican House, Vows ‘Bold Agenda’Scalise Reveals First Legislation for Republican House, Vows ‘Bold Agenda’
    By Tom Ozimek Incoming House Majority Leader Rep. Steve Scalise (R-La.) revealed a list of legislation that he will bring up for Republicans to consider ...
  • Arizona Appeals Court Ruling Harmonizes Conflicting Arizona Abortion LawsArizona Appeals Court Ruling Harmonizes Conflicting Arizona Abortion Laws
    By Caden Pearson The Arizona Court of Appeals ruled on Friday that doctors who perform abortions according to the state’s 15-week abortion ban can’t be prosecuted under a 1901 ...
  • Coal, Gas Lead 2022 Commodities Rally; Recession Fears Greet New YearCoal, Gas Lead 2022 Commodities Rally; Recession Fears Greet New Year
    By Reuters SINGAPORE—Coal and natural gas markets were poised on Friday to end 2022 with strong gains after a global energy crisis triggered by the ...
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